Firetrail’s small-cap manager Matthew Fist explains why one business is set to triple in size, and reveals another with a “mouth-watering” dividend yield.
Already a subscriber?Matthew Fist is portfolio manager of Firetrail Australian Small Companies Fund from Melbourne. The firm oversees about $6 billion in assets.LGI is flying under the radar of most investors, but we don’t expect it to stay that way. It is an energy company that specialises in capturing biogas from landfills and using it to generate and store electricity.
What I do know is that over the past decade or so that I’ve been working on our strategy, we’ve delivered over 20 per cent per annum, post fees, in what has generally been thought of as a poor environment for small caps. Well over half of that return has been outperformance from stock selection. So, if you are sitting out trying to time the market, you are missing out.New Zealand-listed Channel Infrastructure is the most undervalued stock in our fund.
I have been an investor far longer than a geologist or engineer and, strangely enough, BHP was the first stock I invested in when I was 12. My late father bought me $500 of BHP shares as a reward for rote learning my times tables.
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